Sec. 8. ANNUAL PREMIUM SURCHARGE
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## SEC. 8 ANNUAL PREMIUM SURCHARGE ###
(a)Premium Surcharge Chapter I of the National Flood Insurance Act of 1968 (42 U.S.C. 4011 et seq.) is amended by inserting after section 1308 the following new section: > > ## “SEC. 1308A PREMIUM SURCHARGE > > **[**[42 U.S.C. 4015a](/us/usc/t42/s4015a)**]** > > > ### “(a) Imposition and Collection > > The Administrator shall impose and collect an annual surcharge, in the amount provided in subsection (b), on all policies for flood insurance coverage under the National Flood Insurance Program that are newly issued or renewed after the date of the enactment of this section. Such surcharge shall be in addition to the surcharge under section 1304(b) and any other assessments and surcharges applied to such coverage. > > > ### “(b) Amount > > The amount of the surcharge under subsection
(a)shall be— > > > #### “(1) > > $25, except as provided in paragraph (2); and > > > #### “(2) > > $250, in the case of a policy for any property that is— > > > ##### “(A) > > a non-residential property; or > > > ##### “(B) > > a residential property that is not the primary residence of an individual. > > > ### “(c) Termination > > Subsections
(a)and
(b)shall cease to apply on the date on which the chargeable risk premium rate for flood insurance under this title for each property covered by flood insurance under this title, other than properties for which premiums are calculated under subsection
(e)or
(f)of section 1307 or section 1336 of this Act (42 U.S.C. 4014, 4056) or under section 100230 of the Biggert-Waters Flood Insurance Reform Act of 2012 (42 U.S.C. 4014 note), is not less than the applicable estimated risk premium rate under section 1307(a)(1) for such property.” > . ###
(b)Deposit in Reserve Fund Subsection
(c)of section 1310A of the National Flood Insurance Act of 1968 (42 U.S.C. 4017a) is amended by adding at the end the following new paragraph: > > #### “(4) Deposit of premium surcharges > > The Administrator shall deposit in the Reserve Fund any surcharges collected pursuant to section 1308A.” > .
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